HSA Advocates represented ICICI Venture, one of the largest home-grown PE funds in India, backed by ICICI Bank in relation to a multi-layered transaction
HSA Advocates represented ICICI Venture (IVEN), one of the largest home-grown PE funds in India, backed by ICICI Bank in relation to a multi-layered transaction, being carried pursuant to the Scheme on the basis which Qube Cinema will first demerge its business of providing technology solutions and services in the film, video and audio domains, including digital cinema advertising, into Qube Digital Cinema Pvt. Ltd. and its group company Moviebuff Pvt. Ltd will be merged into Qube Digital Cinema Pvt. Ltd. Thereafter, Qube Digital Cinema Pvt. Ltd will be merged with UFO Moviez India Ltd. after IVEN and UFO buy a stake in Qube Digital from private equity investors (Nomura, CISCO, Intel and StreetEdge). Post the merger, IVEN will be issued shares of the listed merged entity and Qube Digital’s shares purchased by UFO will be cancelled after the merger. The transaction primarily involves the merger of UFO and its wholly owned unit PJSA Technosoft Pvt. Ltd with Qube Cinema and its group companies Qube Digital and Moviebuff Pvt. Ltd.
HSA Advocates’ corporate head and senior partner Aparajit Bhattacharya with his team including partner Aninda Pal, principal associate Devika Chadha and associate Deepti Gianchandani along with the ICICI Venture in-house legal team comprising of Madhu Nair, Pooja Basu and Aditya Mohan advised ICICI Venture (IVEN) on this transaction. The other law firms involved in this transaction are: Trilegal who represented Qube’s exiting PE investors, Cyril Amarchand Mangaldas who represented Qube promoters and AZB & Partners who represented UFO /UFO Promoters, the resultant merged listed entity.